Doing business in Chad
|
|
- Caroline Rose
- 6 years ago
- Views:
Transcription
1 Paris, France February 2015
2 Contents Legal framework Oil services companies Recent legislative developments Taxation of upstream companies Regulatory approvals Page 2
3 Chad is located in Central Africa Page 3
4 Legal framework Page 4 Doing business in Mozambique 2015_Pan-African Oil and Gas Tax Workshop
5 Legal framework Law No. 006/PR/2007 dated 2 May 2007 pertaining to hydrocarbons Has repealed Ordinance No. 07/PC-TP-MH dated 3 February 1962 relating to the exploration, exploitation and pipeline transportation of hydrocarbons on the Chadian territory (Petroleum Code), as amended in 1997, and its implementation decree of 1967 Has repealed all previous provisions contrary to the new law Ordinance 001/PR/2010 dated 30 September 2010 Approved the standard production-sharing contract (PSC) Modified and completed the provisions of the Law of 2007 regarding operations carried out under a PSC Decree No. 796/PR/PM/MPE/2010 dated September 2010 issued for the purpose of implementing the aforementioned ordinance and law; provides details regarding notably: Financial, technical and legal requirements for the purpose of undertaking petroleum operations Conditions for the granting, renewal and transfer of mining titles (permits required to conduct petroleum operations under a concession contract and authorizations required to undertake such operations pursuant to a PSC) Page 5
6 Legal framework Recent important legislative changes Ordinance of 2010 Model PSC is a standard production-sharing contract approved by the law, which is the basis for the negotiation of any PSC (all the recent petroleum contracts have been negotiated and signed on the basis of the standard PSC). The mining titles (exclusive exploration authorization and exclusive exploitation authorization) are granted directly to the petroleum company under a PSC. (Before the Ordinance of 2010, the mining titles relating to petroleum operations undertaken pursuant to a PSC were granted to the Chadian National Oil Company (NOC), and foreign oil companies were supposed to act as its subcontractors.) State participation in exploitation can get up to a maximum of 25% of the rights and obligations attached to the exploitation authorization. Pursuant to Article 16 of the Ordinance of 2010, the participating interest of the state is fully carried by the oil company for a threshold of 10% of the participation. There is no corporate income tax (CIT) under a PSC. The rates of the royalties for crude oil have been reduced (minimum rate of 16.5% under the Law of 2007, versus 14.25% under the Ordinance of 2010 and maximum rate of 16.5%). Page 6
7 Oil services companies Page 7 Doing business in Mozambique 2015_Pan-African Oil and Gas Tax Workshop
8 Oil services companies Corporate structure of oil services companies Corporate and legal status: oil services companies may either be foreign companies without a permanent establishment (PE), foreign companies with a PE or locally incorporated branches or companies. Being foreign or permanently established may have an impact on the applicable tax regimes. PE is not expressly defined under Chadian legislation. However, the definition is used under the CEMAC Tax Treaty, of which Chad is a party. PE under Article 1 of the CEMAC Treaty is defined as: Fixed place of business in which the business of the enterprise is wholly or partly carried out Presence of an agent who has the right to conclude contracts on behalf of the enterprise In practice, a PE is considered constituted when the services exceed six months in Chad. Page 8
9 Oil services companies Taxation of oil services companies The two tax regimes are: Common tax regime is CIT at the rate of 35% on net profits Specific tax regime of 12.5% is applicable to companies that do not have a PE in Chad (Article 846 bis of the General Tax Code [GTC]) Foreign companies are subject to the specific tax regime of 12.5% provided they don t have a PE or if they carry out services for a period of less than six months (Article 846 bis of GTC). Local companies or companies that are PEs: Automatically subject to the common tax regime Possibility under Article 51 of the standard PSC to opt for the specific tax regime under Article 846 bis of the GTC mentioned above (must expressly renounce the common tax regime for this to occur) Page 9
10 Oil services companies Hot issues These issues are hot because they are current and because of the amount of money involved: Stock valuation Recently, a company was fined because the tax authority felt that the company, in calculating the unit cost of producing its crude oil in stock, had used the unit of production amortization method instead of using the method defined in the PSC. The authorities felt that, as a result of this, the value of the stock on the company s balance sheet was reduced, thereby reducing the amount it paid in taxes. The tax authority adjusted the company s taxes accordingly. Fixed asset depreciation In a particular case, the administration felt that a company used a different time period for the computation of depreciation instead of the day the asset was being used. In addition, the tax authority felt that the rate retained for depreciation was higher than the one provided for in the PSC. The company s taxes were modified. Page 10
11 Oil services companies Hot issues Interest on loans In a certain case, the tax authority held that interest paid on a loan by a particular company could not be deductible as charges because there was not sufficient evidence to show that the loan was meant for the financing of petroleum operations as provided for by the PSC. The tax authority threatened to modify the taxes unless it received proof that the loan was used to finance petroleum operations. Head-office expense/technical assistance fees Recently, the Chad tax administration felt that a company had deducted too much for headoffice expenses, so it adjusted the company s tax and asked it to pay millions of dollars. Page 11
12 Recent legislative developments Page 12 Doing business in Mozambique 2015_Pan-African Oil and Gas Tax Workshop
13 Recent legislative developments Supplementary Retirement Pension Regime (2013 Finance Act) From 1 January 2013, Chadian companies can deduct from their taxable corporate income premiums paid under the supplementary retirement pension regime. To benefit from this regime: There must be a valid legal and binding agreement between the employer and the employee. The agreement must cover all the workers or a defined category. The insurance company receiving the payment must be a different legal entity from the employer. The supplementary regime allows expatriates to receive a supplementary pension capped at 15% of base salary if the supplementary pension is paid abroad. The 2013 Finance Act allows Chadians to benefit from the option of a supplementary pension insofar as the contribution limit is CFA500,000 (US$870). Page 13
14 Recent legislative developments A fixed tax on transactions relating to petroleum permits has been introduced by the 2014 Finance Law. A fixed tax was instituted by the Law No. 006/PR/2007 dated 2 May 2007 pertaining to hydrocarbons, as a condition for granting petroleum permits and authorizations or approving any transaction thereof. The amount of such a levy was not determined until the coming into force of the 2014 Finance Law, which provides the following applicable amounts: Issuance or renewal of a permit or an authorization for petroleum prospection US$50,000 Issuance, renewal and extension of a permit or an exclusive exploration authorization US$50,000 Transfer of a permit or an exclusive exploration authorization US$1m Issuance, renewal or extension of a permit or exclusive exploitation authorization US$500,000 Transfer of a permit or an exclusive exploitation authorization US$3m Page 14
15 Recent legislative developments Intercompany loan interest (2015 Finance Act) As from 1 January 2015, interest for loans granted to a company by affiliate companies is no longer deductible from a corporate tax perspective. Interest paid to shareholders for funds made available to the company in addition to their capital contributions, regardless of the type of company, is fully deductible to the extent that: The rate applied does not exceed the Chadian Central Bank s rate plus two points. The interest is calculated on the portion of loan no higher than half of share capital. The specific oil convention signed with the Chadian State can mention the specific provisions as regards the deductibility of such interest on loans. Page 15
16 Taxation of upstream companies Page 16 Doing business in Mozambique 2015_Pan-African Oil and Gas Tax Workshop
17 Taxation of upstream companies Farm-in/farm-out agreements Tax and regulatory implications of farm-out agreements where the farmor is the party to the PSC with the Chadian Government CGT, registration duties, non-deductible tax and fixed tax Page 17
18 Taxation of upstream companies Farm-in/farm-out agreements Oil company (farmor) PSC Republic of Chad Farmee Page 18
19 Taxation of upstream companies Farm-in/farm-out agreements Taxation of capital gains resulting from any assignment by the contractor of any authorization to undertake petroleum operations under the PSC and related assets at a rate of 25% (Article 17 of the Ordinance of 30 September 2010) In practice, the Government may agree to apply this special tax only to the assignment of assets or interests relating to the exclusive exploration authorization and to grant an exemption to the capital gains resulting from the transfer of assets under an exclusive exploitation authorization (farm-in and farm-out during the exploitation period). Registration duties are applied at the rate of 3% (transfer of shares), Article 393 of GTC and Article 47.1 of PSC. A non-deductible transaction tax at the rate of 1% is applied to the amount of the transaction, payable by the transferor (Article 21.7 of Law N 008/PR/2007 of 2 May 2007). There is a payment of a fixed tax (Article 32.1 f of the Standard PSC and Article 62 of the Decree of September 2010). The rate of this fixed tax may be found on slide 14. Page 19
20 Regulatory approvals Page 20 Doing business in Mozambique 2015_Pan-African Oil and Gas Tax Workshop
21 Regulatory approvals There must be a prior approval from the Minister of Energy and Petroleum (Article 21 of Law No. 006/PR/2007). According to Article 62 of Decree No.10/796/2010 of 30 September 2010, the request for prior approval must contain the following information: The nature of the rights transferred The existing relationship between the farmor and the farmee The certificate of transfer Any agreement between the farmor and the farmee Evidence of the payment of the fixed tax The Minister of Energy and Petroleum has a deadline of 90 days from application date to approve or deny the transfer. After this deadline, the approval of the Minister is considered as having been granted. Any rejection of the transfer must be duly justified and the holder must be notified. Thereafter, the Minister submits the request and its endorsement for the approval of the Ministerial Council. The transfer is then approved by decree during the Ministerial Council. Page 21
22 EY Assurance Tax Transactions Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. How EY s Global Oil & Gas Center can help your business The oil and gas sector is constantly changing. Increasingly uncertain energy policies, geopolitical complexities, cost management and climate change all present significant challenges. EY s Global Oil & Gas Center supports a global network of more than 10,000 oil and gas professionals with extensive experience in providing assurance, tax, transaction and advisory services across the upstream, midstream, downstream and oilfield service sub-sectors. The Center works to anticipate market trends, execute the mobility of our global resources and articulate points of view on relevant key sector issues. With our deep sector focus, we can help your organization drive down costs and compete more effectively EYGM Limited. All Rights Reserved. EYG no. DW0484 ED None This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice. ey.com/oilandgas
Guinea (Conakry) enacts new Petroleum Code
27 March 2015 EY Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/ Services/Tax/International- Tax/Tax-alert-library#date Guinea
More informationTaxation of natural resources: principles and policy issues
Taxation of natural resources: principles and policy issues Charles Makola The better the question. The better the answer. The better the world works. Introduction Simplified economic and political framework
More informationMexico s FIBRA E tax regulations
September 2015 Energy Alert Mexico s FIBRA E tax regulations After Mexico s energy sector was opened to private investors in late 2013, devising efficient ways to finance infrastructure projects became
More informationFinding the right fit. Public monetization options for upstream companies
Finding the right fit Public monetization options for upstream companies Traditional corporate IPOs have been pillars of the US capital market since the late 1700s, across all industries. St ructures Since
More informationFrench Government submits draft bill on digital services tax to Council of Ministers
8 March 2019 Indirect Tax Alert French Government submits draft bill on digital services tax to Council of Ministers NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global Edition is
More informationEU Commission approves enhancements to Madeira International Business Center Tax Regime
3 September 2013 EU Commission approves enhancements to Madeira International Business Center Tax Regime Executive summary On 2 July 2013, the EU Commission issued a decision allowing Portugal to increase
More informationNigeria ratifies double tax agreement with Spain
27 February 2018 Global Tax Alert Nigeria ratifies double tax agreement with Spain EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser:
More informationForeign MLPs. Using foreign energy-related assets to attract yield-oriented investors
Foreign MLPs Using foreign energy-related assets to attract yield-oriented investors Energy companies around the globe are taking notice of the growth and success of master limited partnerships (MLPs)
More informationFrench Parliament approves Finance Bill for 2018 and second Amending Finance Bill for 2017
22 December 2017 Global Tax Alert French Parliament approves Finance Bill for 2018 and second Amending Finance Bill for 2017 EY Global Tax Alert Library Access both online and pdf versions of all EY Global
More informationAcquisitions of interests in joint operations that are businesses
ey.com/oilandgas April 2013 IFRS Developments for Oil & Gas Acquisitions of interests in joint operations that are businesses An analysis of the potential business and accounting implications of the proposed
More informationJapan and Chile sign income tax treaty
28 January 2016 Global Tax Alert Japan and Chile sign income tax treaty EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: www.ey.com/taxalerts
More informationSpain to require maintenance and submission of VAT books by electronic means
24 November 2015 Indirect Tax Alert Spain to require maintenance and submission of VAT books by electronic means EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts.
More informationSaint Lucia complies with its international commitments while maintaining its attractiveness to investors
12 December 2018 Global Tax Alert Saint Lucia complies with its international commitments while maintaining its attractiveness to investors NEW! EY Tax News Update: Global Edition EY s new Tax News Update:
More informationInternational Taxation of Oil and Gas and Other Mining Activities
Overview and Learning Objectives This course is designed to provide participants with in-depth analyses of international taxation issues related to oil and gas and other mining activities. It starts with
More informationAsia-Pacific update. TEI International Tax Planning Houston. 21 February 2017
Asia-Pacific update TEI International Tax Planning Houston 21 February 2017 Disclaimer EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited,
More informationNigeria s Federal High Court rules that Minister s approval is required for tax deductibility of payments made on gas flare
29 June 2018 Global Tax Alert Nigeria s Federal High Court rules that Minister s approval is required for tax deductibility of payments made on gas flare NEW! EY Tax News Update: Global Edition EY s new
More informationDealing with Tax Audits
Dealing with Tax Audits Difficult market conditions are forcing businesses to adapt to the new economic realities. The state needs to boost its tax revenues. Tax law keeps changing in response to the economic
More informationGlobal Tax Alert. Zambia issues 2015 Budget proposals. Executive summary. Detailed discussion
17 October 2014 EY Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/ Services/Tax/International- Tax/Tax-alert-library#date Zambia
More informationMauritius enacts changes to tax regime for corporations with global business licenses
17 August 2018 Global Tax Alert Mauritius enacts changes to tax regime for corporations with global business licenses NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global Edition is
More informationIsrael reduces limitations on tax free reorganizations
24 August 2017 Global Tax Alert Israel reduces limitations on tax free reorganizations EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser:
More informationAsia region funds passport the state of tax
Asia region funds passport the state of tax August 2016 Background The Asia Region Funds Passport (ARFP) is an initiative among participating countries in the Asia-Pacific region to provide a multilaterally
More informationNorway signs Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS
18 August 2017 Global Tax Alert Norway signs Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS EY Global Tax Alert Library Access both online and pdf versions of all EY Global
More informationIreland publishes Independent Review of Irish Corporate Tax Code
14 September 2017 Global Tax Alert Ireland publishes Independent Review of Irish Corporate Tax Code EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into
More informationCanada: British Columbia introduces employer health tax legislation
25 October 2018 Indirect Tax Alert News from Americas Tax Center Canada: British Columbia introduces employer health tax legislation NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global
More informationIndian Tax Administration releases draft rules on Country-by-Country reporting and Master File implementation for public comment
10 October 2017 Global Tax Alert News from Transfer Pricing Indian Tax Administration releases draft rules on Country-by-Country reporting and Master File implementation for public comment EY Global Tax
More informationFrench Government releases draft Finance Bill for 2019
25 September 2018 Global Tax Alert French Government releases draft Finance Bill for 2019 NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global Edition is a free, personalized email
More informationCanada: Revenu Québec implements new mandatory certificate for personnel placement agencies and subcontractors
23 June 2016 Global Tax Alert News from Americas Tax Center Canada: Revenu Québec implements new mandatory certificate for personnel placement agencies and subcontractors EY Global Tax Alert Library The
More informationPermanent establishments. Recent trends and developments
Permanent establishments Recent trends and developments Panel Moderator Panel Tom Philibert Albena Todorova Catherine Mbogo Partner EY Senegal Partner EY Mozambique East Region Tax Leader EY Kenya Ide
More informationLuxembourg Parliament adopts new IP regime
26 April 2018 Global Tax Alert Luxembourg Parliament adopts new IP regime EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: www.ey.com/taxalerts
More informationIntercompany financing facing new challenges. EY Africa Tax Conference September 2014
Intercompany financing facing new challenges EY Africa Tax Conference September 2014 Panel Moderator Ide Louw International Tax EY South Africa Panel Joseph Pagop Noupoue EY Jemimah Mugo EY Kenya Michael
More informationGuinea issues Finance Act 2017
16 February 2017 Global Tax Alert Guinea issues Finance Act 2017 EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: www.ey.com/taxalerts
More informationGlobal Tax Alert. Venezuela amends additional laws through Enabling Act 1. Law on Exchange Regime and Illegal Acts. News from Americas Tax Center
15 January 2015 Global Tax Alert News from Americas Tax Center EY Americas Tax Center The EY Americas Tax Center brings together the experience and perspectives of over 10,000 tax professionals across
More informationNew Zealand s incoming Government to prioritize International tax reforms
30 October 2017 Global Tax Alert New Zealand s incoming Government to prioritize International tax reforms EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy
More informationCyprus Tax Authority issues guidance on revised transfer pricing framework for intra-group financing activities
5 July 2017 Global Tax Alert News from Transfer Pricing Cyprus Tax Authority issues guidance on revised transfer pricing framework for intra-group financing activities EY Global Tax Alert Library Access
More informationGlobal Tax Alert News from Americas Tax Center Chile s Ministry of Finance presents amendments to tax reform
20 August 2014 Global Tax Alert News from Americas Tax Center EY Americas Tax Center The EY Americas Tax Center brings together the experience and perspectives of over 10,000 tax professionals across the
More informationSpain to require electronic records and submission for VAT books starting July 2017
12 December 2016 Indirect Tax Alert Spain to require electronic records and submission for VAT books starting July 2017 EY Global Tax Alert Library Access both online and pdf versions of all EY Global
More informationSpain releases draft bill on Digital Services Tax
25 October 2018 Indirect Tax Alert Spain releases draft bill on Digital Services Tax NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global Edition is a free, personalized email subscription
More informationIFRS adopted by the European Union. Based on International Financial Reporting Standards in issue at 22 December 2015
IFRS adopted by the European Union Based on International Financial Reporting Standards in issue at 22 December 2015 1. Published International Financial Reporting Standards (IFRS) The table below provides
More informationNew Australia- Germany Tax Treaty enters into force
12 December 2016 Global Tax Alert New Australia- Germany Tax Treaty enters into force EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser:
More informationThe new global tax environment. What the global focus on Base Erosion and Profit Shifting (BEPS) means for your business
The new global tax environment What the global focus on Base Erosion and Profit Shifting (BEPS) means for your business Changing business environment Macroeconomic megatrends, mobility of capital and growth
More informationSingapore-Thailand revised income tax treaty and protocol enter into force
14 March 2016 Global Tax Alert Singapore-Thailand revised income tax treaty and protocol enter into force EY Global Tax Alert Library Access both online and pdf versions Executive summary On 15 February
More informationIndonesia releases implementing regulations on Country-by- Country Reporting
24 January 2018 Global Tax Alert News from Transfer Pricing Indonesia releases implementing regulations on Country-by- Country Reporting EY Global Tax Alert Library Access both online and pdf versions
More informationGhana issues 2018 Budget Statement and Economic Policy
17 November 2017 Global Tax Alert Ghana issues 2018 Budget Statement and Economic Policy EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web
More informationUK issues position paper update on corporate tax and the digital economy
14 March 2018 Global Tax Alert UK issues position paper update on corporate tax and the digital economy EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy
More informationFrance and Singapore sign revised income tax treaty
23 January 2015 International Tax Alert News from the Global Tax Desk Network EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/
More informationGlobal Tax Alert. Colombian Government proposes tax reform. Proposed tax changes. News from Americas Tax Center
7 October 2014 Global Tax Alert News from Americas Tax Center EY Americas Tax Center The EY Americas Tax Center brings together the experience and perspectives of over 10,000 tax professionals across the
More informationTaxation of extractive industries in East and Central Africa. Are these in harmony?
Taxation of extractive industries in East and Central Africa Are these in harmony? Panel Moderator Panel Max Mangoro Silke Mattern Albena Todorova Partner EY Zimbabwe Partner EY Tanzania Partner EY Mozambique
More informationEgypt implements new transfer pricing guidelines
7 November 2018 Global Tax Alert News from Transfer Pricing Egypt implements new transfer pricing guidelines NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global Edition is a free,
More informationPuerto Rico proposes tax reform
21 May 2018 Global Tax Alert News from Americas Tax Center Puerto Rico proposes tax reform EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and perspectives of over
More informationLuxembourg-Cyprus double tax treaty enters into force
7 June 2018 Global Tax Alert Luxembourg-Cyprus double tax treaty enters into force NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global Edition is a free, personalized email subscription
More informationGreek tax considerations on Real Estate investment. 21 January 2019
Greek tax considerations on Real Estate investment 21 January 2019 Agenda Greek tax regime overview Taxes on acquisition Ongoing taxation General Deductibility of expenses Interest deduction limitation
More informationItalian Tax Authorities rule under Advance Ruling for New Investments that logistics hub for auxiliary activities does not create PE
14 February 2017 Global Tax Alert Italian Tax Authorities rule under Advance Ruling for New Investments that logistics hub for auxiliary activities does not create PE EY Global Tax Alert Library Access
More informationBelgium introduces 100% participation exemption
20 March 2018 Global Tax Alert Belgium introduces 100% participation exemption EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: www.ey.com/taxalerts
More informationFrench Tax Authorities release unofficial draft of Transfer Pricing Statement required to be filed with 2013 tax return
24 June 2014 Global Tax Alert News from Transfer Pricing EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/
More informationMexico makes call for bids on 26 onshore blocks for hydrocarbon extraction and issues draft of contracts
June 2015 Oil & Gas alert Update on legislation Mexico makes call for bids on 26 onshore blocks for hydrocarbon extraction and issues draft of contracts On 12 May 2015, authorities in Mexico made a call
More informationEY Energy Executive Insight. Resilience through volatility
EY Energy Executive Insight Resilience through volatility EY Energy Executive Insight: Energy companies responded to the 2014 collapse of crude prices by pulling all the traditional levers that enable
More informationLuxembourg transfer pricing legislation at a glance
2017 EY TAX Alert Luxembourg Luxembourg transfer pricing legislation at a glance Executive summary The law of 23 December 2016 on the budget for the year 2017 ( Budget Law ) has introduced a new article
More informationItaly issues additional clarifications on Patent Box regime
8 April 2016 Global Tax Alert Italy issues additional clarifications on Patent Box regime EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web
More informationHonduras enacts new Tax Code
17 February 2017 Global Tax Alert News from Americas Tax Center Honduras enacts new Tax Code EY Global Tax Alert Library The EY Americas Tax Center brings together the experience and perspectives of over
More informationGermany- Philippines revised income tax treaty enters into force
4 March 2016 Global Tax Alert Germany- Philippines revised income tax treaty enters into force EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your
More informationCanada amends taxation of investment income earned through a private corporation
14 December 2015 Global Tax Alert News from Americas Tax Center Canada amends taxation of investment income earned through a private corporation EY Global Tax Alert Library The EY Americas Tax Center brings
More informationCyprus signs Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS
25 July 2017 Global Tax Alert Cyprus signs Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS EY Global Tax Alert Library Access both online and pdf versions of all EY Global
More informationUruguay s Ministry of Economy formally proposes tax increases
25 July 2016 Global Tax Alert News from Americas Tax Center Uruguay s Ministry of Economy formally proposes tax increases EY Global Tax Alert Library The EY Americas Tax Center brings together the experience
More informationExecutive summary. EY Global Tax Alert Library
20 December 2016 Global Tax Alert Germany publishes draft bill to restrict deduction of royalties to affiliated foreign entities that benefit from IP regimes without substantial local R&D activities EY
More informationTurkey amends transfer pricing legislation
19 August 2016 Global Tax Alert News from Transfer Pricing Turkey amends transfer pricing legislation EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into
More informationCameroon. A. At a glance. Corporate Income Tax Rate (%) Capital Gains Tax Rate (%) Withholding Tax (%)
Cameroon 201 ey.com/globaltaxguides ey.com/taxguidesapp Douala GMT +1 EY +237 33-42-51-09 Boulevard de la Liberté, Ernst & Young Tower, 6th Floor Akwa, Douala Cameroon Business Tax Advisory Joseph Pagop
More informationAlbanian Ministry of Finance issues instruction for implementation of new transfer pricing legislation
25 July 2014 Global Tax Alert News from Transfer Pricing EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/
More informationMexico midstream. Opportunities for investors who move now
Mexico midstream Opportunities for investors who move now opp With energy reform in Mexico under way, companies are eager to participate in the Mexican oil and gas renaissance. One of the biggest opportunities
More informationMauritius issues new rules on substance for GBL and other related changes
19 October 2018 Global Tax Alert Mauritius issues new rules on substance for GBL and other related changes NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global Edition is a free, personalized
More informationIndia revises Country Chapter comments in UN Practical Manual on Transfer Pricing Issues for Developing Countries
14 November 2016 Global Tax Alert News from Transfer Pricing India revises Country Chapter comments in UN Practical Manual on Transfer Pricing Issues for Developing Countries EY Global Tax Alert Library
More informationInternational Tax Update
International Tax Update Stephen Bates Jose Murillo Cynthia Yu 3 May 2016 Disclaimers This presentation is provided solely for the purpose of enhancing knowledge on tax matters. It does not provide tax
More informationIndia releases Annual Report covering transfer pricing and international tax developments
5 September 2014 Global Tax Alert News from Transfer Pricing EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/
More informationIvory Coast. A. At a glance. Mining and metals tax guide. Legal regime. Fiscal regime. January Contents
January 2015 Mining and metals tax guide Ivory Coast Contents A. At a glance... 1 B. Fiscal regime... 2 C. Capital allowances... 5 D. Incentives... 5 E. Withholding taxes... 6 F. State participation...
More informationUK publishes draft Finance Bill clauses and other documents
9 July 2018 Global Tax Alert UK publishes draft Finance Bill clauses and other documents NEW! EY Tax News Update: Global Edition EY s new Tax News Update: Global Edition is a free, personalized email subscription
More informationConducting oil and gas activities in Gabon
Conducting oil and gas activities in Gabon Laws and regulations List the main legislation governing petroleum exploration and production activity in your country. The main legislation relating to petroleum
More informationIFRS adopted by the European Union
IFRS adopted by the European Union IFRS standards and amendments issued by the IASB and endorsed by the as at 31 December 2016 January 2017 1. Published International Financial Reporting Standards The
More informationValue Added Tax (VAT) seminar. Manama, 6 February 2018
Value Added Tax (VAT) seminar Manama, 6 February 2018 Contents Introduction 04 Agenda 05 Key information 07 Registration form 08 Introduction Value-added tax and excise duties in Bahrain: are you ready?
More informationSouth African Revenue Service issues Country-by Country reporting, master file and local file guidance
26 June 2017 Global Tax Alert News from Transfer Pricing South African Revenue Service issues Country-by Country reporting, master file and local file guidance EY Global Tax Alert Library Access both online
More informationSouth African Revenue Service releases public notice on recordkeeping for transfer pricing transactions
9 November 2016 Global Tax Alert News from Transfer Pricing South African Revenue Service releases public notice on recordkeeping for transfer pricing transactions EY Global Tax Alert Library Access both
More informationIFRS adopted by the European Union
IFRS adopted by the European Union Status of the endorsement process for IFRS standards, interpretations and amendments issued by the IASB as at 31 December 2017 February 2018 1. Published International
More informationNigeria s Federal High Court reverses TAT ruling on determination of fixed base for nonresident company
16 November 2015 Global Tax Alert Nigeria s Federal High Court reverses TAT ruling on determination of fixed base for nonresident company EY Global Tax Alert Library Access both online and pdf versions
More informationGlobal Tax Alert. OECD releases final report on Hybrid Mismatch Arrangements under Action 2. Executive summary
11 October 2015 Global Tax Alert EY OECD BEPS project Stay up-to-date on OECD s project on Base Erosion and Profit Shifting with EY s online site containing a comprehensive collection of resources, including
More informationIndonesia implements new transfer pricing documentation requirements in line with BEPS Action 13
16 January 2017 Global Tax Alert News from Transfer Pricing Indonesia implements new transfer pricing documentation requirements in line with BEPS Action 13 EY Global Tax Alert Library Access both online
More informationSouth Africa issues Budget 2015
27 February 2015 EY Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/ Services/Tax/International- Tax/Tax-alert-library#date
More informationIndian Tax Administration releases final rules on Country-by-Country reporting and Master File implementation
6 November 2017 Global Tax Alert News from Transfer Pricing Indian Tax Administration releases final rules on Country-by-Country reporting and Master File implementation EY Global Tax Alert Library Access
More informationUS Tax Reform. Key provisions and their impacts on financial services companies. EMEIA Financial Services January 2018
US Tax Reform Key provisions and their impacts on financial services companies EMEIA Financial Services January 2018 Overview The US Tax Cuts and Jobs Act was passed at the end of 2017 and represents the
More informationGlobal Tax Alert. Singapore Tax Authority releases updated transfer pricing guidelines. Executive summary. News from Transfer Pricing
8 January 2015 Global Tax Alert News from Transfer Pricing EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/
More informationIndia s Authority of Advance Rulings grants capital gains tax exemption under India Mauritius Treaty
22 September 2016 Global Tax Alert India s Authority of Advance Rulings grants capital gains tax exemption under India Mauritius Treaty EY Global Tax Alert Library Access both online and pdf versions of
More informationHow global megatrends could change tax in Africa
How global megatrends could change tax in Africa Panel Moderator Panel Mark Goulding George Trollope Mark Kingon Michael Lalor EY Tax market segment leader Southern region Vice President Tax Sasol South
More informationLuxembourg publishes draft law ratifying Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS
4 September 2018 Global Tax Alert Luxembourg publishes draft law ratifying Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS NEW! EY Tax News Update: Global Edition EY s
More informationNamibia issues 2016/17 Budget
1 March 2016 Global Tax Alert Namibia issues 2016/17 Budget EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: www.ey.com/taxalerts
More informationNew Zealand to implement wide ranging international tax reforms
15 August 2017 Global Tax Alert New Zealand to implement wide ranging international tax reforms EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your
More informationThe FIRPTA investment guide. For foreign investments in certain US oil and gas assets
The FIRPTA investment guide For foreign investments in certain US oil and gas assets About this investment guide Foreign Investment in Real Property Tax Act general overview Description of certain types
More informationHungarian Government submits 2014 tax amendments to Parliament
5 November 2013 Hungarian Government submits 2014 tax amendments to Parliament On 18 October 2013, the Hungarian Government submitted its proposal on amendments to tax and contribution rules with respect
More informationDanish Tax Board rules that Scandinavian sales manager s work from home creates PE for German company
19 April 2017 Global Tax Alert Danish Tax Board rules that Scandinavian sales manager s work from home creates PE for German company EY Global Tax Alert Library Access both online and pdf versions of all
More informationGlobal Tax Alert. Spain proposes amendments to the Spanish ETVE and participation exemption regimes. Executive summary. Detailed discussion
12 September 2014 EY Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/ Services/Tax/International- Tax/Tax-alert-library#date
More informationDriving integrated ÕfYf[aYd Yf\ kg[ayd j]lmjfk
Driving integrated An integrated measurement approach The global business landscape is undergoing a perceptible shift. regulation (on one hand) and social and environmental impacts (on the other hand)
More informationKenya Revenue Authority issues guidelines on tax amnesty on foreign income
15 March 2017 Global Tax Alert Kenya Revenue Authority issues guidelines on tax amnesty on foreign income EY Global Tax Alert Library Access both online and pdf versions of all EY Global Tax Alerts. Copy
More informationIrish Government announces Budget 2016 and publishes update on international tax strategy
16 October 2015 EY Library Access both online and pdf versions of all EY Global Tax Alerts. Copy into your web browser: http://www.ey.com/gl/en/ Services/Tax/International- Tax/Tax-alert-library#date Irish
More informationEuropean Commission announces proposal on double taxation dispute resolution mechanisms in the European Union
26 October 2016 Global Tax Alert European Commission announces proposal on double taxation dispute resolution mechanisms in the European Union EY Global Tax Alert Library Access both online and pdf versions
More information